Real estate continues to be one of the best investments you can make, but it’s also one of the riskiest. There’s a lot at stake each time a property changes hands, and even the wisest and most well-informed experts can only guess about future market conditions. But our team at Ferstl Valuation Services is always in your corner, and we proudly offer professional consultations to help you make properly informed decisions!
We’ve offered trusted property appraisals in Little Rock since 1967, and J.T. Ferstl, MAI, is an Arkansas-licensed attorney with decades of experience advising homeowners and real estate investors. A professional consultation is a great way to “look before you leap” into any potential real estate transaction, and we’re ready to put our expertise to work for you! Here are a few things to think about before listing a property for sale or making an offer:
Is the property accurately priced? Warren Buffett famously says, “Price is what you pay, value is what you get,” as a way of reminding us that real estate and other types of investments aren’t always priced at what they’re actually worth. Property values are heavily influenced by supply and demand, and you should always begin by reviewing the recent sale prices of comparable properties in the area. And if it’s been several years since the property’s last appraisal, we can complete a new independent appraisal for you in about two weeks!
Is this the right time to buy or sell? Many individuals are forced to move for personal or professional reasons, and sometimes they need to sell their properties to raise cash for other investments. But you can’t always count on finding the right buyer when you need one, and if the property’s in a high-demand area, it may be worth making a few capital improvements before you put it on the market.
Are you currently liquid enough? No matter how hot the local market might be, you can never afford to get overextended! You’ll be responsible for making the mortgage payments even when the property isn’t fully leased, and you’ll always need to have enough cash on hand for maintenance and repairs.
To learn more about Little Rock real estate consulting services or to schedule an independent property appraisal, contact us online or at 501-375-1439.
